Why is Onix Solar falling/rising?

As of 24-Jun, Onix Solar Energy Ltd's stock price is currently at 358.45, reflecting an increase of 7.0, or 1.99%. The stock has shown strong performance recently, gaining 51.24% over the last 21 days and outperforming its sector by 1.15% today. It has consistently traded above its moving averages across various time frames, indicating a bullish trend. Additionally, the stock has delivered impressive returns of 291.41% over the past year and has outperformed the BSE 500 in each of the last three annual periods. Positive quarterly results, including the highest PAT and PBDIT figures, further support the stock's upward movement. However, there is a notable decline in investor participation, with delivery volume falling by 98.66% against the five-day average, which could raise concerns about sustainability.
In the broader market context, Onix Solar's short-term return of 10.36% over the past week significantly outpaces the Sensex's return of 0.58%, highlighting its strong relative performance. The stock's year-to-date return of 55.41% also exceeds the Sensex's 5.01%, reinforcing its position as a strong performer in the market. This robust performance, coupled with consistent returns over the last three years, positions Onix Solar favorably against broader market trends, despite the recent drop in trading volume.